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Texas Governor Rick Perry Presents Some Solid Econ 101 Logic
In this gated WSJ Editorial, Gov. Rick Perry is quoted and says; “There is a lot of talk in Washington about inequality. Income inequality. But there is a lot less talk about the inequality that arises from the high cost of everyday life. In blue state coastal cities, you have these strict zoning laws, environmental regulations that have prevented builders from expanding the housing supply. And that may be great for the venture capitalist who wants to keep a nice view of San Francisco Bay, but it's not so great for the single mother working two jobs in order to pay rent and still put food on the table for her kids.”
For those looking for evidence supporting Gov. Perry's quotes. Here are two of my peer reviewed papers. I published these papers 5 years ago.
1. Paper on #1 on housing construction in liberal cities.
Traditional explanations for why some communities block new housing construction focus on incumbent home owner incentives to block entry. Local resident political ideology may also influence community permitting decisions. This paper uses city level panel data across California metropolitan areas from 2000 to 2008 to document that liberal cities grant fewer new housing permits than observationally similar cities located within the same metropolitan area. Cities experiencing a growth in their liberal voter share have a lower new housing permit growth rate.
2. Paper #2 on house prices within the California Coastal Commission zone.
The California coast line borders some of the most beautiful and expensive land in the entire world. The California Coastal Commission was created in 1976 to protect the coast line and to regulate land use within the coastal boundary zone. This well defined regulatory boundary offers a unique opportunity to study the consequences of land use regulation on nearby housing located in the same political jurisdiction. Using two different geocoded data sets, we document gentrification within the boundary and discuss possible explanations for these patterns.
Source: http://greeneconomics.blogspot.com/2015/07/texas-governor-rick-perry-presents-some.html
